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HSBC plans six-year digital barrier notes with cap linked to S&P 500
By Susanna Moon
Chicago, July 1 – HSBC USA Inc. plans to price 0% digital barrier notes due Dec. 27, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the minimum upside return of 57% to 62%, with the exact digital return to be set at pricing.
Investors will receive par if the index falls by up to 30%. Investors will be fully exposed to the index’s decline if it falls by more than 30%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on July 22 and settle on July 29.
The Cusip number is 40433URC2.
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